Which of the Following Is a Correct Statement About the Own

question 77

Multiple Choice

Which of the following is a correct statement about the own price elasticity of demand?

• A) Demand tends to be more inelastic in the short term than in the long term.
• B) Demand tends to be more elastic as more substitutes are available.
• C) Demand tends to be more inelastic for goods that comprise a smaller share of a consumer's budget.
• D) All of the statements are correct.

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